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Wednesday, July 13, 2011

#47 Nifty Update

NIFTY brought smile on the face of investors who had bought shares a day before yesterday.. But am not sure how long this smile will stay on or whether it will stay or not thats a big question. Market is playing in a too volatile time period. One of the major concern isEuropean Crisis. Many analyst from big research house says that capital restructuring of European countries will bring some weakness in that part of the world. TCS is going to be out with its results and street is expecting 5% growth in revenue and 13% down growth in Profitas per CNBC tv-18. Technically speaking stock is looking gud and risk taker can buy the stock for a day or 2 with strict SL. NIFTY has just closed over 100 and 200 DEMA (bth at 5582) but technically speaking it will fill up the rest of the gap unitl 5608 and is expected to seesome more bearish move from the market unless some surprise package is announced for the European crisis. Still my strategy on NIFTY would be selling with a SL of 5660 on closing basis and tgts are 5508/5450/5350/5200